Net sales for the quarter increased 7.4 percent, to $33.96 billion, from $31.62 billion last year. Net sales for the first thirty-six weeks increased 8.3 percent, to $102.90 billion, from $95.02 billion last year. Net income for the quarter was $906 million, or $2.05 per diluted share, compared to $750 million, or $1.70 per diluted share, last year. Net income for the thirty-six weeks was $2.56 billion, or $5.79 per diluted share, compared to $2.09 billion, or $4.74 per diluted share, last year. This year’s third quarter benefitted from a non-recurring tax item of $73 million, or 16 cents per diluted share. Click Read More below for additional information.
Paper science and engineering students from North Carolina State University saw more than just pulp and paper mills on this year’s Paper International Experience (PIE) trip to Domtar’s Personal Care operations in Toledo, Spain. The leap from paper science to personal care was a first for the PIE program and the 32 students who participated, but it’s not unusual for Domtar. People, expertise and raw materials flow between our two major businesses, both within North America and across the Atlantic. The most obvious example of this is fluff pulp, which is manufactured at our U.S. pulp mills and shipped to the Toledo plant for use in absorbent cores. Daniel Richardson, who interned twice at Domtar’s pulp and paper mill in Ashdown, Arkansas, before participating in this trip, felt an immediate connection. Click Read More below for additional information.
FedEx Corp. is announcing a transformation that builds upon the largest global commerce transportation network in the world to further serve the fast-growing e-commerce market. FedEx Ground delivers seven days per week during the holiday peak season, and beginning in January 2020, this service will continue year-round for the majority of the U.S. population. The company is also rapidly integrating FedEx SmartPost package volume into FedEx Ground standard operations and increasing large package capabilities. “We have made significant investments in capacity, technology and automation at FedEx Ground over the past 20 years. These investments have allowed us to gain ground market share for 19 of the last 20 years, and we are now ideally positioned to extend that growth as the average daily volume for small parcels in the U.S. is expected to double by 2026,” said Raj Subramaniam, president and chief operating officer, FedEx Corp. “Expanding our operations to include Sunday residential deliveries further increases our ability to meet the demands of e-commerce shippers and online shoppers.” Click Read More below for additional information.
VerifyMe, Inc., a digital technology solutions provider specializing in counterfeit prevention, authentication, serialization, track and trace features for labels, packaging and products, announces it has entered into a strategic partnership with INX International Ink Company, the third largest producer of inks in North America. INX International is going to co-develop inkjet inks to be used for inkjet printing in combination with high speed, high volume label and packaging printing presses called “flexo” or “roll fed” printing presses. The specially formulated inks will enable these printing presses to print VerifyMe’s RainbowSecure™ invisible ink technology, which includes our variable VeriPAS Serialization, track and trace technology. Currently, the VerifyMe’s RainbowSecure ink technology has only been available on the HP Indigo digital 6000 series press platforms. This development greatly expands (over 20 times) VerifyMe’s penetration into the global printing of labels and packaging. Click Read More below for additional information.
Image Test Labs, a division of Technology Watch, LLC, announced that it has achieved a historic first in the printing industry by configuring an inkjet web press to deliver the image reproduction quality of a commercial sheetfed offset press over a production run of three miles of paper. ITL printed a complex test image on each press side-by-side on the same sheet of paper, demonstrating that the output of the Screen 520 HD SC inkjet web press is suitable for commercial color work that requires offset sheetfed quality. “It is now possible for a production inkjet web printing press to behave like a sheetfed offset printing press,” said Henry B. Freedman, ITL founding partner. “For the first time, regularly supplied off-the-shelf offset paper has been printed by an inkjet web press without requiring any special coatings, resulting in output image quality that matches or exceeds offset quality. Designers can now get much more of what they want from a digitally printed product, opening up a vast volume of work that can be run on an inkjet web press.” Click Read More below for additional information.
Not quite everything in the world of e-commerce is digital. Shipping, based on customer-provided data, may be the weakest link in a smooth, cost-effective transaction. Even slight inaccuracies can delay deliveries, add expensive reshipping fees, and create unhappy customers in the process. Equally painful to any supplier are credit card chargebacks, charges to cover return costs, and additional penalties. “Shipping can definitely be a pain point with e-commerce and mail orders, and problems here can really impact customer retention,” said Michael Marchetta, director of marketing operations at Jerry’s Artarama, a Raleigh, N.C.-based supplier of fine art painting supplies like brushes, paints, easels and drawing materials. With 16 physical locations in the U.S. and a substantial online business, Jerry’s is a mainstay supplier for art schools, individual artists and hobbyists who want professional equipment. Yet with simple changes that integrate data quality into the ordering process, Jerry’s has turned around the potential for shipping losses — and managed to connect the same value to its credit card processing operations as well. Click Read More below for additional information.
The C.D. Howe Institute released a new report entitled: “Branching out: How Canada’s Forest Products Sector is Reshaping its Future”. The study explores current industry trends and advancements that Canada’s forest products sector has made in the face of growing business challenges. It also provides a number of recommendations, which would enable the sector to enhance its contributions to the Canadian economy and our country’s environmental goals. “Canada’s forest products sector is undergoing a period of massive and exciting transformation. This is critical to sustaining and growing job opportunities for workers and families in our northern and rural forestry communities,” said Derek Nighbor, President and CEO of Forest Products Association of Canada (FPAC). “We see rapid growth in the use of wood in building construction, emerging wood fiber-based products that can replace more carbon intensive ones, and innovative ideas and process improvements in our forests and at our mills that can deliver even greater environmental and economic benefits to Canada and the world,” he added. Click Read More below for additional information.
• Total net sales were $130.3 million, an increase of $6.7 million or 5.4%, compared to $123.6 million last year. The Company ended first quarter of fiscal 2019 with 229 total stores compared to 222 total stores last year, both including three RSQ-branded pop-up stores. • Comparable store net sales, which includes e-commerce net sales, increased 2.4% compared to an increase of 0.1% during last year's first quarter. E-commerce net sales increased 29.6% and represented approximately 15.1% of total net sales this year, compared to a decrease of 7.2% and a 12.2% share of total net sales last year. Comparable store net sales in physical stores decreased 1.4% and represented approximately 84.9% of total net sales, compared to an increase of 1.2% and an 87.8% share of total net sales last year. • Gross profit was $35.7 million, an increase of $0.7 million or 2.0%, compared to $35.0 million last year. Gross margin, or gross profit as a percentage of net sales, decreased to 27.4% from 28.3% last year. • Net income was $0.7 million, or $0.02 per diluted share, compared to $1.2 million, or $0.04 per diluted share, last year. Click Read More below for additional information.
First Quarter highlights: •Total revenues increased 7% to $578.5 million. Comparable company sales increased 1% following an increase of 1% in the first quarter last year. •J.Crew sales decreased 4% to $376.1 million. J.Crew comparable sales decreased 1% following a decrease of 6% in the first quarter last year. •Madewell sales increased 15% to $132.9 million. Madewell comparable sales increased 10% following an increase of 31% in the first quarter last year. •Gross margin decreased to 37.0% from 38.3% in the first quarter last year. Operating income was $22.1 million compared with an operating loss of $0.9 million in the first quarter last year. •Net loss was $16.2 million compared to $33.9 million in the first quarter last year. Click Read More below for additional information.
Push Solutions, a New Berlin, Wis.-based print service provider, has doubled its wide-format LED-UV printing power with Fujifilm’s Acuity F and Acuity LED 1600 II presses. At its core, Push Solutions is a kit-packing house, specializing in national distribution for retail support, with a heavy focus on print management, distribution and supply chain. “We are extremely happy with our recent acquisition of the Acuity F,” says Brad Flagge, president, Push Solutions. “We chose the Acuity F because of the productivity; the double-bed capacity is what we needed. The quality is unbelievable; it’s truly superior to other presses in this segment.” Adds Nick Bova, vice president, Push Solutions, “To go a step further, the versatility of the output is key. We are printing on a variety of items we never thought possible, including shelving, drains and stainless steel. It’s opening new doors for us, while maintaining an element of quality and accuracy on those pieces that are defining strong selling features for us. The Acuity F has performed very well on every substrate we’ve ever attempted, and we are now able to respond to our customer needs much faster; it’s exciting.” Click Read More below for additional information.